Maureen O'Sullivan (Dublin Central, Independent)
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142. To ask the Minister for Finance further to the announcement contained in his budget day speech on 14 October 2014, the date that Permanent TSB Bank will come within the remit of the Credit Review Office, if decisions made by Permanent TSB dating back to 14 October 2014 will be accepted and pursued by the office in respect of Permanent TSB; and if he will make a statement on the matter. [3131/16]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by Permanent TSB (PTSB) that it formally launched its lending products for SMEs on 21 December 2015, having completed recruitment, training, development and pilot work over the period since the Minister's announcement on 14th October 2014. PTSB is working with the Credit Review Office (CRO) to put in place systems necessary to participate in the CRO appeals procedure which it expects to finalise by 31 March 2016. Once finalised, applications rejected from that date by PTSB will be eligible for review by the CRO.

I am also informed by PTSB that a borrower who has had their credit application previously rejected by the bank can formally reapply with relevant additional and up to date information. This will be considered as a new application and make it eligible for CRO assessment if refused after 31^stMarch.